Holding $104 million worth around $24 million, the wallet straightened the entire balance to Coinbase late Saturday night. The move, initially picked up by the whale alert, wasn’t that big. It was from a wallet that has been completely silent since 2021.
Address, dnbyuljgbdiqcv39grme1ahkmu19y5dfnd, had no outgoing activity until this complete transfer. Blockchain data indicates that it received its first Doge in October 2021, and the funds come from the withdrawal address of Coinbase Pro. Since then I have collected Doge in small deposits, but have not moved anything up until now.
Perfect balance was transferred in one shot without any remaining dust. Just 104,125,016 Doge Out, fees paid, and wallet empty.
🚨104,125,016#Doge(20,090,304 USD) transferred from unknown wallet to #coinbasehttps://t.co/zhkkbkn9bm
– Whale Alert (@whale_alert) May 31, 2025
This type of movement usually raises questions. Transfers to major exchanges of this size usually suggest a possibility of liquidation, positioning of OTC settlements, or integration prior to movement. There’s no way to tell it yet, but what stands out is the timing.
Dogecoin has been under pressure for several weeks. After pushing over $0.23 in mid-May, it was crushed – and by the time of this transfer, it had dropped to $0.188, wiping out about 18% within 10 days. This drop will result in a local low level. This means someone will catch the bottom or come out halfway through.
Whether it’s awakening whales, internal Coinbase flows, or long term holders cash out, one thing is clear.
